The market where firms purchase factors of production is referred to as the
a. product market.
b. resource market.
c. capital market.
d. foreign exchange market.
B
Economics
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According to the principle of diminishing marginal utility, increases in income will create ______ happiness at ______ income levels.
a. zero; lower b. less; upper c. more; upper d. less; lower
Economics
is caused by drops in total production.
A. Structural unemployment B. Frictional unemployment C. Seasonal unemployment D. Cyclical unemployment
Economics
List three distinct types of resources
What will be an ideal response?
Economics
Refer to the graph shown. When price declines by 11 percent, quantity supplied falls by 8 percent. Which curve best demonstrates the elasticity in this example?
A. A B. B C. C D. None of the answers is correct.
Economics